How’s The Market Doing?

Everyone asks, “How’s the real estate market doing”?

The quick answer is, reasonably well… just not as blazing hot as a few years ago.

The average monthly sales price from January 2015 to Jan 2016 increased by 6.5%.

The average monthly sales price from January 2017 to Jan 2018 increased by 4.5%. * While 4.5% is respectable, it’s a 30% reduction in rate of increase year over year between market peak and now. That’s reason #1 why the market feels like it’s slowing down.

Revenue units (calculated by a transaction statistic) increased by 7.8% between 2014 and 2015.

Revenue units (calculated by a transaction statistic) increased by a bit over 2% between 2016 and 2017. * The significance of this reduction is reason #2 why the market feels softer.

Bottom line:

Selling your home? In order to achieve max results, stage it as well as you possibly can, and price it competitively. High demand areas continue to perform well. Areas on the border of these high demand locations can expect lower performance. Buy Location!

Buying a home? You now have more to choose from and an increased ability to negotiate. But the market for demand locations and well staged homes in those locations, remains quite strong.